GBPUSD on Thursday rose 0.22% to 1.24949. Pair in consolidation. How it happened.
|Performance after Thursday|
|Week to-date||0.46%||57.6 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
USD Pending Home Sales (1-mth) in March rose to 0.8% compared to previous figure 0.8%.
🇺🇸 Core Personal Consumption Expenditures (3-mth) in Q1 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 4.4% in Q4 Bureau of Economic Analysis
🇺🇸 GDP Annualized in Q1 preliminary estimate below forecast and dropped to 1.1% compared to previous figure 2.6% in Q4 Bureau of Economic Analysis
🇺🇸 In the week ending 22 April, the Initial Unemployment Insurance Claims dropped to 230K compared to previous figure 245K Department of Labor
USD Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%). Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.22% to 1.24949. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24534 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24997 or trades above daily pivot 1.24765. Break above could target R1 at 1.25181. While to the downside, we are looking at 1.24534 (S1) and daily low of 1.24350 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.24997 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.46% over the past few days.
Key levels to watch out:
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